The US economy grew 5.7% in 2021

Washington, Jan. 27 (EFE). The US economy grew 5.7% in 2021, according to the first calculation of the country’s gross domestic product published this Thursday by the Bureau of Economic Analysis (BEA).

Growth of 5.7% in 2021 is the largest annual progress recorded in the country since 1984 and came after the recession in 2020 due to the pandemic, in which GDP fell 3.4%.

According to data released today, US GDP accelerated in the fourth quarter of last year, advancing 6.9% on an annual basis and 1.7% compared to August-September.

However, the Egyptian Accounting Office (BEA) warned that fourth-quarter data is still incomplete and that this estimate may differ. The second account will be published on February 24.

The annual growth for 2021 is attributed to the improvement in the consumption of goods and services in a recovery year marked by increased consumption and investment, especially non-residential ones, as well as an improvement in the export of goods.

The increase in US GDP in the fourth quarter was driven by increases in private investment, exports and consumer spending, which partially offset the decline in public investment, federal, state and local. Imports also rose. EFE

bamp / psh

© EFE 2022. Redistribution and retransmission of all or part of the contents of the Efe Services, without the prior and express consent of Agencia EFE SA, is expressly prohibited.